DETROIT -- Billionaire financier Wilbur Ross added to his collection of parts of auto suppliers Thursday.
International Automotive Components Group Brazil, Ross' joint venture with Franklin Mutual Advisers LLC, said it has completed the acquisition of the Brazilian operations of Collins & Aikman Corp. Terms were not disclosed.
The deal gives the International Components Group control of three plants in Brazil that make interior and exterior components for General Motors, Ford Motor Co., DaimlerChrysler AG, Toyota Motor Corp., Volkswagen AG and others.
The plants are controlled by Plascar Participacoes Industriais S.A., which is controlled by Permali do Brazil Industria e Comercio Ltda. The deal gives the International Components Group a full stake in Permali.
A spokesman for Collins & Aikman did not immediately return a message Thursday morning.
Collins & Aikman, of Troy, Mich., supplies cockpit modules, instrument panels, flooring, acoustic systems, fabrics, trim, convertible-top systems and accessory mats. It ranks No. 29 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $3.90 billion in 2004.
You may e-mail Greg Migliore at gmigliore @crain.com